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RPAI's Boulevard At Cap Centre Selected For Dimensions Healthcare/UMMS Regional Medical Center

Stocks in this article: RPAI

OAK BROOK, Ill., Aug. 22, 2013 /PRNewswire/ -- Retail Properties of America, Inc., (NYSE: RPAI) today announced that Boulevard at Cap Centre has been approved by the Dimensions Healthcare Board of Directors as the preferred location for the new Dimensions Healthcare/ University of Maryland Medical System (UMMS) Regional Medical Center. Prince George's County recommended the site to the Board.

The Boulevard at Cap Centre is optimally located with easy access from the Beltway and the Metro station at Largo Town Center, and is near new residential development, restaurants and shopping. The project is expected to be a catalyst for further positive development in the area.

"RPAI is excited to have the Boulevard at Cap Centre approved by the Dimensions Healthcare Board of Directors as the preferred location for the new Dimensions Healthcare/UMMS Regional Medical Center," said, Daniel Slattery, Senior Vice President, Director of Development at RPAI.  "We share County Executive Rushern Baker's vision for a world class medical facility for Prince George's County and are honored to play a role in making this vision a reality.  Working with Dimensions Healthcare, UMMS and the County has been an excellent collaboration that we look forward to continuing in order to promote medical, retail and residential growth in this site for years to come."

Shane Garrison, Executive Vice President, Chief Operating Officer and Chief Investment Officer at RPAI, said, "The approval of Boulevard at Cap Centre as the preferred location demonstrates the transformational potential we have always seen in this property, which is in one of our target markets.  We purchased Cap Centre as low density retail, but our long-term vision for the property to ultimately become mixed use with improved density, showcases that when you buy the right real estate, its highest and best use will be realized."

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